Good news for low-income earners who want to buy their first home as the Fijian Government has issued a Request for Tender for the country’s first affordable housing public-private partnership project.
Deputy Prime Minister and Minister for Finance, Professor Biman Prasad has stated that the government has a vision to eradicate informal or squatter settlements in the next 10 years
Professor Prasad says that 90 percent of the total population earns below $50,000 and cannot access the formal housing market.
He says affordability has become a challenge therefore there has been an increase in informal or squatter settlements.
The Deputy Prime Minister says 6 sites have already been earmarked in Davuilevu, Nepani, Wainibuku and Raiwaqa in the Central Division while areas identified in the west are in Tavakubu, Lautoka and Tavua.
He says the total area is 266 acres to develop the first pilot project which is expected to supply about 3,000 housing units.
Professor Prasad says these will be climate resilient and green, and on top of that, they will be category 5 cyclone-compliant structures.
He says in order to do this the government will engage a private sector participation through the public-private partnership arrangement. The Deputy Prime Minister says the objective of bringing in the private sector is to reduce squatter settlements.
He says the National Housing Policy identified 15 percent of the urban population living in 200 informal settlements around the country.
He says there is a lack of affordability of houses for low and middle-income households with the average value at $243,000.
Professor Prasad says this project will be a collaboration between the Ministry of Finance and the Housing Ministry.
